Professor G invests $4,000 into an account that guarantees 4.2% interest (compounded annually) for 6 years....
Professor G invests $4,000 into an account that guarantees 4.2% interest (compounded annually) for 6 years. How much will he have after the 6 year time period?
Homework Answers
future value of a single amount = amount invested*(1+r)^n
here,
amount invested = 4000
r = 4.2%
=>0.042.
number of periods =6.
=>4000*(1.042)^6.
=>$5,119.96....(if rounded to two decimals).....or $5,120....(if rounded to nearest whole number).
Add Answer to:
Professor G invests $4,000 into an account that guarantees 4.2%
interest (compounded annually) for 6 years....
Ravi invests $10,000 in an investment account that pays 4% compounded semi-annually. Ravi takes each interest...
Ravi invests $10,000 in an investment account that pays 4% compounded semi-annually. Ravi takes each interest payment and invests it in a savings account that pays 1% compounded monthly. a) How much money does Ravi have at the end of 10 years? b) What is the effective annual rate he earned over 10 years? please show full work done with all formulas
3) Ravi invests $10,000 in an investment account that pays 4% compounded semi- annually. Ravi takes each interest p...
3) Ravi invests $10,000 in an investment account that pays 4% compounded semi- annually. Ravi takes each interest payment and invests it in a savings account that pays 1% compounded monthly. a) How much money does Ravi have at the end of 10 years? b) What is the effective annual rate he earned over 10 years?
3) Ravi invests $10,000 in an investment account that pays 4% compounded semi- annually. Ravi takes each interest p...
3) Ravi invests $10,000 in an investment account that pays 4% compounded semi- annually. Ravi takes each interest payment and invests it in a savings account that pays 1% compounded monthly. a) How much money does Ravi have at the end of 10 years? b) What is the effective annual rate he earned over 10 years?
3) Ravi invests $10,000 in an investment account that pays 4% compounded semi- annually. Ravi takes...
3) Ravi invests $10,000 in an investment account that pays 4% compounded semi- annually. Ravi takes each interest payment and invests it in a savings account that pays 1% compounded monthly. a) How much money does Ravi have at the end of 10 years? b) What is the effective annual rate he earned over 10 years?
You deposit $3,000 at the end of the year (k = 0) into an account that pays interest at a rate of 7% compounded annually. A year after your deposit, the savings account interest rate changes to 1 2%...
You deposit $3,000 at the end of the year (k = 0) into an account that pays interest at a rate of 7% compounded annually. A year after your deposit, the savings account interest rate changes to 1 2% nominal interest compounded month y Five years after ur de o the savings account aga changes it interest rate this time e interest rate becomes 8% nominal interest compounded quarterly. Eight years after your deposit, the saving account changes its rate...
You deposit $1000 each year into an account earning 6% interest compounded annually. How much will...
You deposit $1000 each year into an account earning 6% interest compounded annually. How much will you have in the account in 15 years?
4-1If Samantha invests $700 today in an account that pays 4 percent interest compounded annu- ally,...
4-1If Samantha invests $700 today in an account that pays 4 percent interest compounded annu- ally, how much will she have in her account four years from today? 4–2 Fifteen (15) years ago, your parents purchased an investment for $2,500. If the investment earned 6 percent interest each year, how much is it worth today? 4–3 Fiona plans to invest $500 later today. She wants to know to what amount her investment will grow in 20 years if she earns...
1) Carlos has borrowed $8,000 for 8 years at 6% compounded semi-annually. He will repay interest...
1) Carlos has borrowed $8,000 for 8 years at 6% compounded semi-annually. He will repay interest every 6 months plus principal at maturity. He will also deposit X every 6 months into a sinking fund paying 5% compounded semi-annually to pay off the principal at maturity. a) Find X. Carlos goes bankrupt at the end of year 6, just after making his interest payment and sinking fund deposit. The bank confiscates the money in the sinking fund but gets no...
Question 15 O Mark this question Suppose an account pays 6% interest that is compounded annually....
Question 15 O Mark this question Suppose an account pays 6% interest that is compounded annually. At the beginning of each year, $2,000 is deposited into the account (starting with $2,000 for the first year) What is the value of the account after the tenth deposit if no withdrawals or additional deposits are made? 0 $21,200.00 O $26,361.59 O $23,581.70 O $35,816.95 Suppose $15,000 is deposited into an account paying 6.5% interest, which is compounded annually. How much money is...
4. Juan deposits of $1,000 in a savings account that pays 8% compounded annually. Exactly 2...
4. Juan deposits of $1,000 in a savings account that pays 8% compounded annually. Exactly 2 years later he deposits $3,000; 2 years later he deposits $4,000; and 4 years later he withdraws all of the interest earned to date and transfers it to a fund that pays 10%compounded annually. How much money will be in each fund 4 years after the transfer?
3) Ravi invests $10,000 in an investment account that pays 4% compounded semi- annually. Ravi takes each interest payment and invests it in a savings account that pays 1% compounded monthly. a) How much money does Ravi have at the end of 10 years? b) What is the effective annual rate he earned over 10 years?
3) Ravi invests $10,000 in an investment account that pays 4% compounded semi- annually. Ravi takes each interest payment and invests it in a savings account that pays 1% compounded monthly. a) How much money does Ravi have at the end of 10 years? b) What is the effective annual rate he earned over 10 years?
3) Ravi invests $10,000 in an investment account that pays 4% compounded semi- annually. Ravi takes each interest payment and invests it in a savings account that pays 1% compounded monthly. a) How much money does Ravi have at the end of 10 years? b) What is the effective annual rate he earned over 10 years?
You deposit $3,000 at the end of the year (k = 0) into an account that pays interest at a rate of 7% compounded annually. A year after your deposit, the savings account interest rate changes to 1 2% nominal interest compounded month y Five years after ur de o the savings account aga changes it interest rate this time e interest rate becomes 8% nominal interest compounded quarterly. Eight years after your deposit, the saving account changes its rate...
1) Carlos has borrowed $8,000 for 8 years at 6% compounded semi-annually. He will repay interest every 6 months plus principal at maturity. He will also deposit X every 6 months into a sinking fund paying 5% compounded semi-annually to pay off the principal at maturity. a) Find X. Carlos goes bankrupt at the end of year 6, just after making his interest payment and sinking fund deposit. The bank confiscates the money in the sinking fund but gets no...
Question 15 O Mark this question Suppose an account pays 6% interest that is compounded annually. At the beginning of each year, $2,000 is deposited into the account (starting with $2,000 for the first year) What is the value of the account after the tenth deposit if no withdrawals or additional deposits are made? 0 $21,200.00 O $26,361.59 O $23,581.70 O $35,816.95 Suppose $15,000 is deposited into an account paying 6.5% interest, which is compounded annually. How much money is...
4. Juan deposits of $1,000 in a savings account that pays 8% compounded annually. Exactly 2 years later he deposits $3,000; 2 years later he deposits $4,000; and 4 years later he withdraws all of the interest earned to date and transfers it to a fund that pays 10%compounded annually. How much money will be in each fund 4 years after the transfer?
Most questions answered within 3 hours.
-
Hydrogen fluoride is used in the manufacture of Freons (which
destroy ozone in the stratosphere) and...
asked 5 minutes ago -
Please answer question 3.
2. A city has learned that by buying larger garbage trucks, it...
asked 3 minutes ago -
What is “power” in communication interactions, according to
Martin & Nakayama (2018)?
asked 2 minutes ago -
Would the color red look different if you were immersed in water
rather than in air?
asked 13 minutes ago -
A steel piping is to be produced by centrifugal casting. The
length is 3.5 meters and...
asked 16 minutes ago -
3...
The following information was taken from Indriks Company’s cash
budget for the month of July:...
asked 28 minutes ago -
Country Company had the following partially completed payroll
register:
Partial payroll register:
Earnings
Withholdings
Salaries
Beginning...
asked 32 minutes ago -
I
have to separate 5 ions into 5 different test tubes
-> I CAN’T MAKE THE...
asked 42 minutes ago -
Juanita took a business trip from Houston to New York. She
worked for 4 days, then...
asked 41 minutes ago -
4. If we had
assumed the q for the calorimeter to be zero, would this have...
asked 50 minutes ago -
The following table reports real income per person for several
different economies in the years 1960...
asked 48 minutes ago -
Since the Great Recession, the trade deficit has been
decreasing
staying about the same
increasing
none...
asked 48 minutes ago